2017-05-10T17:21:10-05:00 2016-06-30 COHNREZNICK LLP 7501 WISCONSIN AVENUE 400E BETHESDA MD 208146583 990 2015-07-01 530211355 MARET SCHOOL INC % ROBERT MCCARTHY MARE 2029398800 3000 CATHEDRAL AVENUE NW WASHINGTON DC 200083407 DARWIN WALKER ASST HEAD - FINANCE 2029398800 2017-05-09 true ED RYAN CPA P00223815 3016529100 2017-05-09 2015 2021-01-29 14:40:06Z MARJO TALBOTT 3000 CATHEDRAL AVENUE NW WASHINGTON DC 20008 68391111 false X WWW.MARET.ORG X 1937 DC MARET IS A VIBRANT K-12, CO-EDUCATIONAL, INDEPENDENT SCHOOL IN WASHINGTON, DC. WE IGNITE OUR STUDENTS' POTENTIAL AND FOSTER THEIR ACADEMIC, ARTISTIC, AND ATHLETIC TALENTS. 25 25 203 415 0 5156866 3798871 22569089 23167667 3336566 -1452905 464740 383973 31527261 25897606 3684681 3886074 0 0 14995321 15625009 0 0 728695 8015089 8534280 26695091 28045363 4832170 -2147757 80773711 79266426 29103152 29933333 51670559 49333093 X MARET SCHOOL IS A VIBRANT K-12, CO-EDUCATIONAL, INDEPENDENT SCHOOL IN WASHINGTON, DC. WE IGNITE OUR STUDENTS' POTENTIAL AND FOSTER THEIR ACADEMIC, ARTISTIC, AND ATHLETIC TALENTS. WE DEVELOP THE MIND, NURTURE CURIOSITY, WELCOME CHALLENGE, EMBRACE JOY, AND BUILD COMMUNITY THAT IS EQUITABLE AND INCLUSIVE. false false 23149420 3886074 23167667 PROVIDE EDUCATION TO APPROXIMATELY 645 STUDENTS, FROM KINDERGARTEN THROUGH GRADE TWELVE 23149420 true true false false false false false false false true true false false false true true true false true false false false false true true false false false true true true false false false false false false true false false false true false false false false false false false false true 150 0 true 203 true false false false false false true true false false false false X 25 25 false false false false false false false true true false false true true true true true true true true false X ROBERT MCCARTHY 2029398800 3000 CATHEDRAL AVE NW WASHINGTON DC 20008 MARY MENELL ZIENTS PRESIDENT 2.0 X X 0 0 0 IAN CAMERON VICE PRESIDENT 2.0 X X 0 0 0 MICHAEL BESCHLOSS SECRETARY 2.0 X X 0 0 0 TRAVIS ALLEN TREASURER 2.0 X X 0 0 0 JUDY BACON TRUSTEE 2.0 X 0 0 0 JEAN BADERSCHNEIDER TRUSTEE 2.0 X 0 0 0 M JAMES BARRETT TRUSTEE 2.0 X 0 0 0 KEN BROTMAN TRUSTEE 2.0 X 0 0 0 E KAY COWAN TRUSTEE 2.0 X 0 0 0 ARI FITZGERALD TRUSTEE 2.0 X 0 0 0 LAUSON GREEN TRUSTEE 2.0 X 0 0 0 WILLIAM R MALONI JR TRUSTEE 2.0 X 0 0 0 DIANE MOONEY TRUSTEE 2.0 X 0 0 0 SUSAN MORITA TRUSTEE 2.0 X 0 0 0 MICHELE NORRIS-JOHNSON TRUSTEE 2.0 X 0 0 0 CASSIE MELTZER PERGAMENT TRUSTEE 2.0 X 0 0 0 ANDREA REID TRUSTEE 2.0 X 0 0 0 BEATRICE WELTERS TRUSTEE 2.0 X 0 0 0 LEIGH COMAS TRUSTEE 2.0 X 0 0 0 TOM MONAHAN TRUSTEE 2.0 X 0 0 0 TED STETTINIUS TRUSTEE 2.0 X 0 0 0 ESMA AKIN TRUSTEE 2.0 X 0 0 0 MARGARET JOHNSON TRUSTEE 2.0 X 0 0 0 MICHAEL KIRSHBAUM TRUSTEE 2.0 X 0 0 0 VADIM NIKITINE TRUSTEE 2.0 X 0 0 0 MARY JOSEPHINE TALBOTT HEAD OF SCHOOL 50.0 0.0 X 457782 0 102775 DARWIN WALKER ASSISTANT HEAD: FINANCE & OPS 50.0 0.0 X 277084 0 30377 SALLY DUNKELBERGER DIRECTOR OF DEVELOPMENT 50.0 0.0 X 192436 0 29161 SUSAN EPPS ASST HEAD: FACULTY DEVEL 50.0 0.0 X 134249 0 10740 DAVID WALKER ASST DIR UPPER SCHOOL 50.0 0.0 X 134126 0 10730 ANNIE FARQUHAR DIR OF ADMISSIONS 50.0 0.0 X 144995 0 25366 JAIME ESTRADA LANGUAGE DEPT CHAIR 50.0 0.0 X 147289 0 24778 CHRISTINA KYONG DIRECTOR MIDDLE SCHOOL 50.0 0.0 X 128913 0 10313 1616874 0 244240 8 false true false 0 476425 3322446 1186459 3798871 TUITION AND FEES 900099 22283753 22283753 SUMMER PROGRAMS 900099 767325 767325 STUDENT ACTIVITIES 900099 116589 116589 23167667 1102751 1102751 0 0 0 0 0 39782597 2985 42341238 -2558641 2985 -2555656 -2555656 367539 476425 152267 215272 215272 0 0 OTHER INCOME 900099 168701 168701 168701 25897606 23167667 -1068932 0 3886074 3886074 0 0 1129018 882264 217593 29161 0 11710603 9182043 2171715 356845 770939 591142 179797 1126250 785723 255957 84570 888199 722201 158795 7203 0 60762 60762 39600 39600 0 0 0 1132518 503968 625715 2835 1700 1700 437426 117060 235354 85012 144675 134361 10314 0 391405 391405 166554 17896 145607 3051 0 127740 99431 21654 6655 614363 614363 0 2027747 2027747 168422 168422 OVERHEAD EXPENSE ALLOCATION 0 4134498 -4174636 40138 SCHOOL DEPARTMENT EXPENSES 1068397 1068397 SCHOOL LUNCH PROGRAM 810965 810965 PROFESSIONAL DEVELOPMENT 41600 41600 1300406 171797 1025698 102911 28045363 23149420 4167248 728695 6639499 8766746 0 0 1532477 685345 406085 241745 0 0 0 0 0 0 0 0 239920 151876 54983082 23109604 30759042 31873478 40907048 37279455 0 0 0 0 0 0 289640 267781 80773711 79266426 1434650 957526 0 0 9569038 10262838 15277404 14869206 0 0 0 0 0 0 0 0 2822060 3843763 29103152 29933333 X 28282699 27409217 7269138 5410297 16118722 16513579 51670559 49333093 80773711 79266426 X -2147757 720821 -910530 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20687546 394857 -471917 602020 20008466 21643186 95936 -391311 660265 20687546 19336785 225232 2579816 498647 21643186 17916157 208059 1665730 453161 19336785 16489234 1685340 196291 454708 17916157 0.82530 0.17470 false false 126082 126082 46376573 16948943 29427630 2204144 1278075 926069 777521 718918 58603 5498762 4163668 1335094 31873478 0 AMOUNTS HELD ON BEHALF OF OTHERS 314160 DEFERRED COMPENSATION 412311 CAPITAL LEASE OBLIGATION 93347 INTEREST RATE SWAP MARKET VALUATION 3023945 3843763 X 21971105 720821 -4796604 -4075783 26046888 -149282 -149282 25897606 24308571 149282 149282 24159289 3886074 3886074 28045363 FIN 48 FOOTNOTE - SCHEDULE D, PART X, LINE 2 The School is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code ("IRC"), except for unrelated business income, as defined by the IRC. The School did not have any unrelated business income during the years ended June 30, 2016 and 2015. Accordingly, these statements do not reflect a provision for income taxes. The School is required to file, and does file, tax returns with the Internal Revenue Service ("IRS") and other taxing authorities. Tax returns filed by the School are subject to examination by the IRS for a period of three years. While no income tax returns are currently being examined by the IRS, tax years since 2013 remain open. The School has adopted the income tax standard for uncertain income tax positions. During the years ended June 30, 2016 and 2015, the School did not identify any uncertain tax positions that qualify for either recognition or disclosure in the financial statements. ENDOWMENT - SCHEDULE D, PART V, LINE 4 THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 25 INDIVIDUAL DONOR- RESTRICTED FUNDS ESTABLISHED FOR SCHOLARSHIPS AND RELATED ACADEMIC ACTIVITIES. PART XI, LINE 2D financial aid to students: ($3,886,074) Loss on Interest Rate Swaps: ($ 910,530) ___________ ($4,796,604) PART XII, LINE 4B FINANCIAL AID TO STUDENTS: $3,886,074 PART XI - LINE 4B FUNDRAISING EXPENSES: ($152,267) GAIN INCLUDED WITH EXPENSES ON F/S: $ 2,985 __________ ($149,282) PART XII, LINE 2D FUNDRAISING EXPENSES: $152,267 GAIN INCLUDED WITH EXPENSES ON F/S: ($ 2,985) __________ $149,282 true true true true true true true false false false false false false false false false true SCHOOL'S NONDISCRIMINATORY POLICY - SCHEDULE E, PART I, LINE 3 THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLISHED IN THE WASHINGTON POST ON A PERIODIC BASIS. AUCTION 843964 476425 367539 5482 82911 63874 0 843964 476425 367539 5482 82911 63874 152267 215272 true FINANCIAL AID 151 3886074 MONITORING THE USE OF GRANT FUNDS - PART I, LINE 2 ALL FINANCIAL AID GRANTS ARE APPLIED TO THE STUDENTS' TUITION. X X true true X X X X X X false true false false false false false false false MARY JOSEPHINE TALBOTT HEAD OF SCHOOL 382782 0 0 0 75000 0 93598 0 9177 0 560557 0 0 0 DARWIN WALKER ASSISTANT HEAD: FINANCE & OPS 277084 0 0 0 0 0 21200 0 9177 0 307461 0 0 0 SALLY DUNKELBERGER DIRECTOR OF DEVELOPMENT 192436 0 0 0 0 0 15395 0 13766 0 221597 0 0 0 ANNIE FARQUHAR DIR OF ADMISSIONS 144995 0 0 0 0 0 11600 0 13766 0 170361 0 0 0 JAIME ESTRADA LANGUAGE DEPT CHAIR 147289 0 0 0 0 0 11783 0 12995 0 172067 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECEIVED A HOUSING ALLOWANCE AND PERSONAL SERVICES, WHICH INCLUDED HOUSE CLEANING AND LAWN CARE. PART I, LINE 4B THE HEAD OF SCHOOL AND THE ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS PARTICIPATE IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN SECTION 457F. THE SCHOOL MADE A CONTRIBUTION OF $72,398 ON BEHALF OF THE HEAD OF SCHOOL TO THIS PLAN IN 2015. A DISTRICT OF COLUMBIA 536001131 2548394P5 2009-10-07 17335000 REFINANCE TAX EXEMPT BONDS false false false A 2465794 0 17335000 0 0 0 0 0 0 0 17335000 0 true false true true A false false false false 0 false false false false A false false false true true true SUNTRUST BANK 15. false false false 0 false false A false NONQUALIFIED BOND - SCHEDULE K, PART III, LINE 9 THE BOND REFERENCED IS A BANK QUALIFIED BOND REBATE COMPUTATION DATE - SCHEDULE K, PART IV, LINE 2C THE REBATE COMPUTATION CALCULATION WAS LAST PERFORMED ON DECEMBER 9, 2013, SHOWING NO AMOUNT DUE. 64380 FINANCIAL AID TUITION ASSISTANCE X 39 956994 FMV X auction items 350 229465 FMV false false false CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C EACH BOARD TRUSTEE SIGNS A CONFLICT OF INTEREST POLICY STATEMENT ANNUALLY. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, LINES 15A & 15B DURING THE FIRST QUARTER OF 2013, A COMPENSATION COMMITTEE WHOSE MEMBERSHIP INCLUDED THE PRESIDENT, VICE PRESIDENT, AND TREASURER, HIRED AN INDEPENDENT COMPENSATION CONSULTANT WHO SURVEYED 25+ COMPARABLE SCHOOLS AND USED THAT DATA IN DETERMINING THE APPROPRIATE COMPENSATION FOR THE HEAD. THE KEY EMPLOYEE AND HIGHEST COMPENSATED EMPLOYEES' SALARIES ARE COMPARED TO THOSE AT COMPARABLE SCHOOLS. AVAILABILITY OF ORGANIZATION DOCUMENTS FORM 990, PART VI, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. BOARD REVIEW OF FORM 990 FORM 990, PART VI, LINE 11B PRIOR TO FILING THE FORM 990, AN ELECTRONIC COPY OF THE FORM 990 IS PROVIDED TO EACH BOARD TRUSTEE FOR REVIEW. FINANCIAL AID FORM 990 PART VII, SEC. A, LINE 1A, COL. (F) SEE SCHEDULE L, PART III, FOR ADDITIONAL INFORMATION REGARDING BOARD MEMBERS WHO WERE GRANTED FINANCIAL AID AS A RESULT OF A BLIND APPLICATION PROCESS. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 LOSS ON INTEREST RATE SWAPS - ($910,530)